Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits that turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he chose that maverick academic Varoufakis to be the finance minister mainly because of the latter's worldwide fame and his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis had a personal motives which involved promoting Varoufakis's publications and experimenting with his game theories using Greece rather than genuinely advocating the country's economic stability.
He wrote how those talks to stave off insolvency were “not only a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to exiting the eurozone.
On the line lay not only Greece's destiny and those severe austerity policies required in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, a move which plunged Europe into further crisis of identity.
Even though the vote was won decisively by voters against austerity, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement that required complex and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
This retelling of history has been met with fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
